Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022. Future Publishing | Future Publishing | Getty Images China’s economy is sputtering. Its property market is crumbling, deflationary pressures are spreading across the nation,
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The AUDUSD has traded down and up and is back down this week. On the run higher, the buyers had their shot to run higher with the move back above a key swing level at 0.65229, and the 100-day MA at 0.65298. However, that move failed, and the buyers have turned to sellers once again.
Oil prices gained over 2% on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. Brent crude futures rose $1.70, or 2.15%, to $80.91 a barrel by 1525 GMT. U.S. West Texas Intermediate crude futures were up $1.61, or 2.18%, at $75.47.
It’s not often that Federal Reserve Chairman Jerome Powell highlights a specific piece of economic data that he’s looking forward to but he did just that at the latest FOMC meeting. One piece of data I will be watching closely is the scheduled revisions to CPI inflation due next month. Recall that a year ago,
Dollar rises broadly in early US session, standing out in a day characterized by relatively slow news flow. The move in the greenback can be primarily attributed to the rise in US benchmark yields, which outpaced those of other regions, thereby bolstering the greenback’s appeal. Sentiment surrounding the US market remains positive, with traders showing
In this article Follow your favorite stocksCREATE FREE ACCOUNT Arm makes the CPU architecture for chips found in nearly all smartphones. An Arm chip is shown here in San Jose, California, on October 12, 2023. Sydney Boyo Arm reported fiscal third-quarter earnings that beat estimates and gave a strong profit forecast for the current quarter.
Share: On Thursday, the GBP/USD pair declined towards the 1.2615 level showing slight losses with upbeat US labor market figures benefiting the Greenback with Jobless claims from the week ending on February 3 coming in lower than expected. However, the Bank of England (BoE) holds a somewhat similar stance as the Federal Reserve (Fed) in delaying rate cuts
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Gold prices ticked up on Thursday buoyed by a softer dollar and lower Treasury yields, ahead of a weekly jobless claims report that could provide fresh clues on when the U.S. Federal Reserve would start lowering interest rates. FUNDAMENTALS * Spot gold rose 0.2% to $2,037.80 per ounce, as of 0218 GMT. * U.S. gold
Clerc says that Maersk has suffered “serious attacks” in the Red Sea and that there is no clarity over the costs accumulated from said disruptions. Adding that he expects a continued shipping diversion from the Red Sea “for a while”. As for Q4 earnings, the firm reported a miss on forecasts in terms of profit
In this article DIS Follow your favorite stocksCREATE FREE ACCOUNT LOS ANGELES — The Walt Disney Company reported better-than-expected fiscal first-quarter earnings on Wednesday as the media giant slashed costs while revenue stagnated. Disney said it is on pace to meet or exceed its goal of cutting costs by at least $7.5 billion by the
Share: Australian Dollar retraces its recent losses amid a stable US Dollar. Australia’s currency is strengthened as RBA’s Bullock did not rule anything in or out regarding future policy actions. Chinese CPI (YoY) declined by 0.8% against the anticipated decline of 0.5% and the previous decline of 0.3%. Fed members commit to keeping interest rates elevated
The USDJPY moved lower earlier in the day as yields dipped into negative territory. However, after falling below its 100-hour moving average, buyers did show up between the 100-day moving average at 147.597 and the 200-hour movie area at 147.675. The inability to move below those levels gave the buyers the go-ahead to move back
The Congressional Budget Office (CBO) provides a comprehensive forecast based on current laws, including the assumption that the 2017 individual tax cuts will expire at the end of 2025. Here’s a summary of their projections: The CBO forecasts the U.S. fiscal year 2024 deficit at $1.507 trillion, a decrease from the FY 2023 deficit of
Gold prices jumped Rs 170 to Rs 63,370 per 10 grams in the national capital on Wednesday amid gains in precious metal’s prices globally, according to HDFC Securities. The yellow metal had closed at Rs 63,200 per 10 grams in the previous trade. However, silver plunged Rs 300 to Rs 74,600 per kilogram, while it
Sterling, and to a lesser extent, Euro, are propelled slightly higher by hawkish comments from key figures in BoE and ECB. These officials have adopted a stance of patience, preferring to wait for additional economic data before making any decisions on interest rate cuts. Their cautious approach has also lifted benchmark yields in the UK